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HomeNewsUS Sanctions Against Ukraine; Chinese Company Aiding Wagner Group In Russia

US Sanctions Against Ukraine; Chinese Company Aiding Wagner Group In Russia

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Some Political Sanctions, Termed Economic, Are Being Levied on China.

For reportedly delivering satellite footage of Ukraine to support the mercenary Wagner Group’s military operations for Russia. The United States (US), has blacklisted a Chinese corporation.

16 organizations have been given restrictions by the Treasury Department, including the Changsha Tianyi Space Science and Technology Research Institute.

Spacety China, another name for the company, has headquarters in Beijing and Luxembourg.

Wagner provided thousands of soldiers to Russia for the Ukraine War.

Details of the Case

Spacety Synthetic aperture radar (SAR) satellite photos of places in Ukraine were given to Terra Tech. A tech company with offices in Russia. By China, according to a notice released on Thursday by the US Treasury Department’s Bureau of Foreign Assets Control.

The statement read, “These photographs were obtained to support Wagner’s combat operations in Ukraine”. The division has also penalized Spacety’s business in Luxembourg.

Any transaction, transfer, or sale of property or assets in the United States to the targeted entities is prohibited by the sanctions. Still, China has not yet reacted to the action.

Ukraine

China Has Shown Support for Russia, and the USA along with its Allies Comendning The Acts of China

China, a strong friend of Russia, has made an effort to present itself as a third party in the conflict in Ukraine. The United States and its allies have condemned it for failing to denounce Russia’s invasion of Ukraine.

Spacety China claims to be a “leader” in the commercialized SAR technology industry. It states on its website that it aims to “make SAR images of every point on earth available and inexpensive” for users around the world.

SAR is a kind of radar method that employs smaller antennas to produce images with higher resolution.

According to the corporate website, Yang Feng, the chief executive officer, is a member of the panel of experts for China’s Ministry of Science and Technology.

The website also includes a number of collaboration partners. Such as the University of Chinese Academy of Sciences and state-owned businesses China Aerospace Science and Industry Corporation and China Electronics Technology Group Corporation.

The Sanctions

Along with Spacety China, the US also imposed penalties on 15 additional organizations, eight people, and four planes, many of which were located in Russia and are thought to be a part of Wagner’s alleged worldwide support network.

Among them are the Central African-based Sewa Security Services and the United Arab Emirates-based Kratol Aviation, which allegedly provided planes to transport people and supplies between Central Africa, Libya, and Mali.

Approximately 50,000 fighters are now under Wagner’s control in Ukraine, according to estimations from the White House. The group is crucial to Russia’s combat efforts. It has actively participated in operations to seize Bakhmut, a city in eastern Ukraine.

Yevgeny Prigozhin, a close associate of Russian President Vladimir Putin, serves as its leader.

Putin’s capacity to arm and equip his military machine will be further hampered by today’s increased sanctions on Wagner. In addition to new penalties on their partners and other businesses supporting the Russian military establishment, according to United States Treasury Secretary Janet Yellen.

Tycoonstory
Tycoonstoryhttps://www.tycoonstory.com/
Sameer is a writer, entrepreneur and investor. He is passionate about inspiring entrepreneurs and women in business, telling great startup stories, providing readers with actionable insights on startup fundraising, startup marketing and startup non-obviousnesses and generally ranting on things that he thinks should be ranting about all while hoping to impress upon them to bet on themselves (as entrepreneurs) and bet on others (as investors or potential board members or executives or managers) who are really betting on themselves but need the motivation of someone else’s endorsement to get there.

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